Lake Street Private Wealth LLC Buys 744 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Lake Street Private Wealth LLC raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,831 shares of the credit services provider’s stock after acquiring an additional 744 shares during the period. Lake Street Private Wealth LLC’s holdings in PayPal were worth $2,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PYPL. Legal & General Group Plc lifted its position in shares of PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the period. Primecap Management Co. CA lifted its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP raised its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in PayPal by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after purchasing an additional 146,643 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

PYPL stock traded up $0.09 during mid-day trading on Wednesday, hitting $81.00. The stock had a trading volume of 2,423,478 shares, compared to its average volume of 13,559,438. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $82.23. The firm has a market capitalization of $82.81 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.47 and a beta of 1.44. The firm has a fifty day simple moving average of $74.81 and a 200 day simple moving average of $66.86.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PYPL shares. Susquehanna increased their target price on shares of PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Macquarie increased their price objective on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Monness Crespi & Hardt increased their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Evercore ISI increased their price objective on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $78.03.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.